Term And Conditions

Welcome to all new applicants of Scholars Row. In order to reside in our community, we require each applicant 18 years or older to meet certain rental criteria. Please review these requirements to determine if you are eligible.

Please note that these are our current rental criteria and nothing in these requirements shall constitute a guarantee or representation by our community that all residents and occupants currently residing in our community have met these requirements. There may be residents and occupants that have resided here prior to these requirements going into effect; therefore, our ability to verify whether these requirements are met is limited to the information we receive from various resident reporting services.

All applicants and occupants aged 18 years or older must complete a separate rental application.

DRS Management, LLC utilizes a credit scoring system that incorporates a statistical model comparing information on your credit profile, such as bill-paying history, the number and type of accounts, late payments, collection actions, outstanding debt, reported rental history, and the age of accounts, to the credit performance of consumers with similar profiles. (A credit scoring model only uses information on the applicant that pertains to credit; it does not use certain characteristics like-race, color, religion, sex, national origin, handicap, or familial status in its calculation.) The scoring system awards points for each factor and considers income, monthly rent, and overall credit history to evaluate how creditworthy you are. If there is limited credit history available, items A and B below will be used to evaluate your application and additional deposits may be required. This company and this community do not discriminate on the basis of race, color, religion, sex, national origin, handicap, or familial status.

1. INCOME:

Applicant must gross two and a half (2.5) times the amount of the monthly rent. Verification may include original pay stubs, written verification from income sources, etc. Self-employed applicants may be required to provide tax returns or company profit loss statements. Roommate application income qualifications are 2.5 times the monthly rent per applicant based on $635 per month. Anyone in the service industry or paid on a straight commission basis may be required to provide the previous year’s W2 tax form and an actual pay stub. Assets such as 401K programs, stock dividends, certificates of deposits, etc. will be considered with three months of most current statements for each account. In lieu of monthly income grossing three times the amount of the monthly rent, applicants may provide a bank statement, dated within 30 days of application date, reflecting a balance equal to or greater than 12 months’ rent.

2. RENTAL HISTORY:

(1) Satisfactory rental history or proof of home ownership may be verified for each applicant. (2) The resident must have given adequate notice to vacate. (3) There must be no outstanding financial obligations to the landlord regardless of any claims to bankruptcy. (4) An applicant who is currently obligated to a lease agreement with another landlord may be required to provide a qualified guarantor/co-signer before approval is considered. (5) If applicant has an eviction in the last five years this will result in an automatic denial, regardless of whether or not debt has been satisfied. (6) Prior lease violation(s) may result in denial.

3. CREDIT

Applicant must have good credit / rental rating and must also have stable, verifiable employment, or a co-signer who meets the foregoing criteria. Anyone in the service industry or paid on a straight commission basis, must provide previous year W2 tax form, and an actual pay stub. Phone verification is not acceptable. Open tax liens, unpaid legal items or bankruptcies that are not discharged will result in an automatic denial of the application. Low credit scores may require a deposit equal to an amount no greater than one month of rent or a qualified guarantor/co-signer.

4. OCCUPANCY GUILDELINES

All residents and all occupants must be listed on the Lease Contract with no more than two occupants per studio apartment and no more than three occupants per 1 bedroom apartment.

CRIMINAL HISTORY- All occupants age 18 and older will be screened for criminal history. The history must reflect no felony convictions within 7 years, deferred or withheld adjudication, for a felony or a misdemeanor for crimes against a person within 7 years. A history beyond 7 years will be evaluated case by case. Felonies in the past 7 years that are drug related will result in automatic denial. Please remember that this requirement does not constitute a guarantee or representation that residents or occupants currently in our community have not been convicted of a felony or crime against a person. There may be a resident or an occupant that have resided in our community prior to this requirement going in effect. Additionally, our ability to verify this information is limited to the information made available to us by the resident credit reporting services used.

6. INITIAL LEASE TERM:

6-12 months. Subject to change based on availability. After approval, the lease contract will be emailed to you for your electronic signature through BlueMoon Services. An additional short-term rental fee is applicable on all leases shorter than 12 months.

7. RENEWAL LEASE TERM:

6-12 months. Subject to change based on availability. Month to month leases are only available after the original lease term expires with an additional month-to-month fee of $150. The renewal lease contract will be emailed to you for your electronic signature. Lease renewals may be signed in advance of current lease contract expiration date. Renewal lease contracts may be cancelled only if it is cancelled 30 days prior to the renewal effective date; a 60-day written notice to vacate will be required on lease contract renewal cancellations.

8. RENTERS INSURANCE:

Scholars Row requires proof of $100,000 in personal liability insurance for EACH adult occupant and leaseholder age 18 and older. Proof of insurance can be documented by a certificate of insurance from your insurance agent or a copy of the “Declarations Page” of your policy. Possession/move in date will be delayed if proof of insurance certification is not received by Scholars Row prior to possession/move in date. You are pre-approved through erenterplan.com.

1. SMOKING PROHIBITED:

Scholars Row does not allow smoking inside the buildings or in common areas. Smoking is only permitted outside on patios or balconies attached to your dwelling. We have the right to terminate your lease contract for violation of the no-smoking addendum.

10. RESPONSIBLE GUN OWNERSHIP:

Scholars Row requires resident(s), any member of the resident’s household or guest or other person under the residents control to declare any firearm they possess to the leasing office. Proof of a valid license/permit for any firearm in possession may be required. Possession/move-in date will be delayed if proof of valid license/permit is not received by Scholars Row prior to possession/move-in date.

11. NOTICE TO VACATE

A 60-day written notice to vacate must be submitted 60 days prior to your lease expiration in order for the lease to terminate. Giving a written notice does not release a resident from any financial obligation unless indicated in writing by the manager. To fulfill the early lease termination clause, a 60-day notice to vacate must be submitted on the 1st day of a month to expire on the last day of a month. All other terms of the early termination agreement must be met.

50. SECURITY DEPOSIT

A security deposit is required. The security deposit is fully refundable upon move-out if the apartment is left with no cleaning charges, no damages and no other balance owed. Security deposits must be paid in full at time of possession/move in. Applicant with conditional acceptance may be required to pay an additional security deposit equal to an amount no greater than one month’s rent.

<>h31000. ADMINISTRATIVE FEE

An administrative fee is due at the time of application for all lease terms. An additional corporate administrative fee is due at move-in for all corporate leases. All administrative fees for the apartment are non-refundable. If the applicant finds it necessary to cancel an application the administrative fee will be refunded provided the cancellation takes place within the first two business days after submitting an application.

14. APPLICATION FEE:

A $35.00 non-refundable application fee is due for each applicant 18 years of age or older. Guarantors must also pay a non-refundable application fee of $35.00.

PET DEPOSIT AND PET FEE:

A $200.00 pet deposit is required and is refundable if no pet damage or other outstanding balance is incurred during tenancy. A $150.00 non-refundable administrative pet fee is also required for each apartment. We allow 2 pets maximum per apartment. Adding a second pet to your lease agreement after move in requires an additional monthly pet fee. Pictures of pets and proof of updated vaccinations are required for the file. Monthly pet rent charges are a total of $15.00 for one pet and $30.00 for two pets, per month. Upon transferring from one apartment to another, new pet deposits and pet fees must be paid. A $50.00 pet waste removal fee will be assessed to those who are in violation of the pet agreement.

16. ANIMALS:

Dogs and cats are permitted within the following guidelines:
• Pet Weight is based on animal’s adult/full grown weight
• No puppies or kittens less than 6 months old
• No exotic animals, farm animals or reptiles
• All animals are required to be current on all vaccinations and resident must provide documentation
• A picture of the pet must be provided prior to approving application
• The Animal Agreement must be signed by all leaseholders, occupants, and the management prior to the pet occupying the apartment
• Property management reserves the right to reject certain breeds of dogs including but not limited to: Pit Bull & Pit Bull mix, German Shepherd, Doberman, Rottweiler, Akita, Chow, Tosa, Persa and Mastiff breeds
• No more than 2 animals per apartment

17. APARTMENT TRANSFER:

Resident(s) may choose to transfer from one apartment to another provided they give a 30-day written notice, have fulfilled a minimum of 6 months residency in their current apartment, pay a new administrative fee, a new security deposit and transfer fee of $500. Resident(s) transferring at the end of their current lease term will not have a transfer fee but must pay a new deposit and administrative fee. Account must be in good standing and applicant(s) may be required to re-qualify. The property manager must approve all transfers.

18. LEASE GUARANTOR/CO-SIGNERS:

Must submit an application along and pay all applicable application fee(s) and meet all applicant rental criteria. In addition, we must verify the guarantor/co-signer(s) income is equal to or greater than five times the monthly rental rate.

19. FALSE INFORMATION- Any falsification of information on the application will automatically disqualify the application and all deposits and application monies will be forfeited.

20. CANCELLATION OF APPLICATION:

If the applicant finds it necessary to cancel a move-in the administrative fee will be refunded provided the cancellation takes place within 2 full business days of submitting application, regardless of approval status. Applicant must provide written notice of cancellation. After 2 full business days of submitting application the administrative fee is non-refundable. All administrative fees will be deposited at the bank immediately upon receipt and any cancellation refunds will be mailed to the last known address within 30 days.

21. APPLICATION APPROVAL PROCESS:

The approval process will begin when we have received a completed application, application fee(s) and an administrative fee. All applicants 18 years of age or older must have a valid verifiable Social Security number or Individual Tax Payer Identification Number. The three outcomes from the approval process are accepted, conditional acceptance, or denied. Additional information and or deposit amount may be required if approval is conditional. If you are denied credit, the Equal Credit Opportunity Act requires that the creditor give you a notice that tells you the specific reasons your application was rejected or the fact that you have the right to learn the reasons if you ask within 60 days. If you are denied credit because of information from a credit report, we will give you the name, address and phone number of the credit-reporting agency that supplies the information. You should contact that agency to find out what your report contained. Once an applicant has been denied they are in-eligible to re-apply for a 12-month period.

5. RENT COLLECTION PROCEDURES:

Rent is due on the 1st calendar day of every month and is due, without demand. Late fees are assessed on the morning of the 6th day of the calendar month in the amount of $50.00 with an accruing amount of $5.00 per additional day that the balance is unpaid, not to exceed fifteen days. On or about the 6th day of the month, you will receive your first notice of late rent. If rent is not paid in full by the 15th, a Notice to Quit will be delivered to your apartment. Any rent that remains unpaid after the Notice to Quit is delivered may be submitted for collection and eviction proceedings to commence. Rent and all related payments must be made in the form of cashier’s check, money orders, personal check or credit card. Electronic payments may be submitted through the resident portal. Cash will not be accepted.

23. CREDIT CARD PAYMENTS- Credit and Debit cards through Visa and MasterCard are accepted forms of rent payment. A convenience fee will be added to the total transaction amount for each payment.

10. PARKING:

One parking space per leaseholder is included with the apartment. All parking is open parking and no assigned parking is available. A $50.00 parking fine will be assessed to those who are in violation of parking policies, such as parking in handicap spaces, no parking zones, blocking fire lanes or trash receptacles and/or inoperable or unlicensed vehicles.

25. TRASH POLICY- Please have all trash properly sealed in a trash bag and placed in the trash receptacle. Trash may not be left outside your front door, in the hallway, or any common area at any time. A $25.00 trash removal fee will be assessed to those who violate the trash policy, per occurrence, per bag.

26. RESIDENT REFERRAL BONUS:

Refer an applicant to Scholars Row and receive a discount off of your rent the month after the referred resident move-ins and has paid one full month’s rent. The applicant must sign a minimum lease term of six months and indicate you or your apartment number as to how they heard of Scholars Row on their first visit to the community to view an apartment. One Resident Referral Bonus may be used per month; in addition, the current and future resident(s) must be current with all rent payments in order to receive the Resident Referral Bonus.
By submitting your application you the applicant, occupant and/or guarantor/co-signer herby consent to allow Scholars Row, itself or through its designated agents and its employees, to obtain a consumer report and criminal record information on each of us and to obtain and verify each of our credit and employment information for the purpose of determining whether to lease an apartment to me/us. I/We also agree and understand that owner and its agents and employees may obtain additional consumer reports and criminal record reports on each of us in the future to update or review our account. Upon my/our request, owner will tell me/us whether consumer reports or criminal record reports were requested and the names and addresses of any consumer-reporting agency that provided such reports.

By submitting your application you also acknowledge you have reviewed and understand the above stated rental application criteria.